Consumers' Paradoxical Interpretations of Prestige and Luxury

Abstract

In relation to consumption, we observe puzzlement in the ways the terms prestige and luxury are interpreted both in scholarly discussions and in consumers' minds. Some use these terms interchangeably while others assign different meanings. Through our study, with a qualitative inquiry, we hope to shed light to this perplexity from consumers' perspectives. We first offer a framework about the confusion in consumers' minds related to their understanding of the notions of prestige and luxury, which can have different connotations. In addition to its material aspects, prestige may also be associated with moral values while luxury is often materialistic. Accordingly, the analysis shows these intangible, material, and interpersonal aspects of prestige. With the study, we hope to contribute to consumer behavior theories, at the same time highlighting both the limits and the success of materialism.